Section 179 of this act allows businesses to deduct the full purchase price of a Vehicle Washing System purchased or financed during the tax year. That means customers can buy or lease a Vehicle Washing System and deduct the FULL PURCHASE PRICE from thier gross income.
Another change that the Economic Stimulus Act of 2008 brought to Section 179 is the offer of a one-time "bonus first year depreciation" of 50% on any Vehicle Washing Systems purchases above $250,000. This is in addition to normal depreciation.
Please see the example using the Section 179 Act Calculator to the right.
Also keep in mind that to qualify for the Section 179 Deduction, the equipment must be purchased and put into use between January 1, 2009 and December 31, 2009.
